updated 03:49 pm EDT, Fri April 25, 2014

Speculation leaning towards involvement with iWatch

In a new CNBC interview, Nike CEO Mark Parker says he is "excited" about where his company's relationship with Apple will go, something that may hint at new products. Parker is mum on specifics of collaborative possibilities, but says that in terms of the wearable fitness device industry, Nike will focus on software instead of hardware, integrating it into both Nike's products and that of its partners, with the aim of growing the Fuel brand.

Nike recently fired its entire wearable hardware team, shocking many in the industry given the company's role in establishing wearables, the industry's newfound popularity, and plans for an updated FuelBand. Parker's comments may only boost speculation that the development signals Nike involvement in the Apple iWatch, which is expected to concentrate heavily on health and fitness tracking.

Apple and Nike have been closely associated for years, mainly through the Nike+iPod initiative. People like Apple CEO Tim Cook have also been seen wearing a FuelBand.